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Epocrates Acquires "Assets" from Caretools’ iChart... Hires MedTech-IQ member, Dr. Thomas Giannulli as Chief Medical Information Officer

Colleagues,

As reported in Brian Dolan's must read newsletter MobiHealthNews ... According to a recent IPO (Initial Public Offering) filing document with the SEC (Securities and Exchange Commission), Epocrates, Inc. has acquired certain “intangible assets” from Caretools, Inc. that will help it create its forthcoming EHR (Electronic Health Records) product...

... Epocrates is a leading provider of "Point of Care" mobile drug reference tools that help healthcare professionals make more informed prescribing decisions, enhance patient safety and improve practice productivity. The Epocrates user network consists of over one million healthcare professionals, including more than 290,000, or 40% of, U.S. physicians...

... Earlier this year, Epocrates announced plans to offer an affordable, easy to implement electronic health record specifically for the solo practitioner or small physician group...


... MedTech-IQ member, Thomas Giannulli MD, MS developed and launched the Caretools, Inc. "iChart" in the summer of 2008 and sold iChart as an iPhone-based EHR app. By April 2009, Giannulli had sold the iChart app to 1,000 users in nine different countries..

... In June 2009, Epocrates acquired certain intangible assets of Caretools, Inc. The acquisition was accounted for as a business combination under GAAP... Contingent consideration is calculated based on an estimate of royalties on revenue generated through June 2013 from the sale of products incorporating Caretools’ technology. For the three months ended March 31, 2010, we recorded a change in the fair value of the contingent consideration of $1.2 million, according to the Epocrates SEC filing...

...The filing also notes that Dr. Giannulli has served as the Epocrates Chief Medical Information Officer since August 2009...
 
... From September 2003 to August 2009, Dr. Giannulli served as the Chief Executive Officer of Caretools, Inc., a healthcare technology company, where his primary responsibilities included leadership and oversight of all operational functions of the company, as well as development of strategic initiatives..

... We offer Tom (who is also Founder of our mhealth Group on MedTech-IQ) our heartfelt congratulations as he proceeds forward on this exciting venture, and our best wishes for continued success as this opportunity matures ...

Read on at: http://mobihealthnews.com/8406/epocrates-ipo-reveals-400k-mobile-eh...

ENJOY!

CC

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